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TotalEnergies Pledges $10B for Argentina Projects
1 Oct
Summary
- TotalEnergies announced a $10 billion investment plan for Argentina.
- Investments target offshore development and gas production amplification.
- The company aims to increase its gas production to 16 million cubic metres daily.
French oil company TotalEnergies is set to invest $10 billion in Argentina. CEO Patrick Pouyanne announced the significant commitment, which will be channeled into multiple projects across the country.
These initiatives include a new offshore development planned for Tierra del Fuego. Additionally, TotalEnergies intends to amplify its existing gas production facility located in Neuquen.
The company has set an ambitious target to increase its daily gas production to 16 million cubic metres. Pouyanne indicated that between $4 billion and $5 billion in investments are expected over the coming decade to achieve these production goals.
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